Annual Report

FLLYR

Mon, May 31 2021 03:32 pm

Please see attached the Annual Report fro Acension Capital Limited (NZX:ACE) for the year ended 31 March 2021.

During the course of the year:
• the Company changed its name from TRS Investments Limited to Ascension Capital Limited (“Ascension” or “the Company”), and also changed its ticker code from “TRS” to “ACE”.

• Sean Joyce and Roger Gower were appointed as directors of the Company, and Joe van Wijk resigned.

• the Company issued 333,177,621 new ordinary fully paid shares at an issue price of $0.00025 per share. The capital raising initiative raised $83,295 of new capital for the Company. Subsequent to 30 September 2020 the Company raised a further $62,250 in capital through the issue of 249,000,000 ordinary shares.

• the Company received notice that the interest of HuaHan International Holdings (Hong Kong) Co Limited (as lender) in the Loan Facility Agreement with the Company (as borrower), which facility has a principal sum owing of $359,910, has been assigned to Excalibur Capital Partners Limited. Excalibur Capital Partners Limited is a substantial shareholder in Ascension and is controlled by S Joyce (a non-executive director of Ascension).

The focus of the Board going forward is to identify a suitable business opportunity to invest in and/or acquire through a reverse takeover transaction. Currently, there are no initiatives being investigated, but the Company will provide the market with any updates as to material developments in due course.

The financial result for the Company for the year ended 31 March 2021 is a loss after taxation of NZ$150,531, which is largely made up of the directors’ fees, NZX listing costs, and legal and accounting costs.

For further information, please contact:
Sean Joyce
Director
Ascension Capital Limited
Email: [email protected]
Mobile: 021 865 704